हिन्दी ಕನ್ನಡ മലയാളം தமிழ் తెలుగు

Documents required to open an equity trading account

Posted by:
Updated: Tuesday, August 28, 2012, 12:16 [IST]
 
Share this on your social network:
   Facebook Twitter Google+    Comments Mail

Documents required to open an equity trading account

Before opening an equity trading account be ready with some of the basic documents required. To open an account, one needs to submit a series of document. However, documents may vary from broker to broker.

Basic documents required are:

  • Account opening form 
  • Power of attorney (Not mandatory)
  • Address proof 
  • Identity proof 
  • Bank and DP account opening forms (if you don't have one) 
  • Passport size photos 

Identity proof

(PAN Card / Voters ID / Passport / Driving License or Aadhaar card)

*If a customer does not have PAN Card, then he/she cannot open the trading account .

Address proof

Telephone bill / Electricity bill / Bank statement not more than 3 months old / Bank Passbook / Ration Card/ Passport / Voter Id Card/ Registered Lease or Sale Agreement for Residence/ Driving License / Flat Maintenance bill / Insurance copy.

*The name & address on the proof should match with the name, residence address mentioned on the application form.

Power of attorney: A power of attorney is given to your broker when you open an online trading account, to place orders for you. Broker will have separate trading account for each of his clients to have clear demarcation.

Execution is done in the broker's name and later will be transferred to your demat account.

Many brokers have trading account, demat account and savings account together in single account to enhance customer convenience.

Some brokers have the option of three-in-one trading account, where it allows an investor to operate the savings bank, demat and trading accounts on a single platform.

However, PoA is not mandatory, except for the online 3-in-1 trading accounts, and must conform to Sebi's guidelines to prevent its misuse.as an investor you have a choice of deciding whether to give or not to give PoA. 

* When you open this kind of account, ensure POA is signed only for trading account and not for demat or savings account.

GoodReturns.in

Topics: pan, trading
Story first published:  Tuesday, August 28, 2012, 8:55 [IST]
Write Comments

Please read our comments policy before posting

Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
Goodreturns iPad App
Goodreturns iPad App
Download GoodReturns iPad App and enjoy it. Learn more about Oneindia GoodReturns on the App Store.
Download Goodreturns iPad App